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Real Unemployment in Europe: Five Countries Over 20%, Four Countries over 30%!

Aug. 15, 2017 (EIRNS)—The London Financial Times has published a chart of real unemployment in 14 European countries, counting both people who are seeking a job and people who are no longer looking for a job, plus those who are "involuntarily part-time," i.e. people who would like to have a full-time job, but are forced to work part-time.

Italian economist Alberto Bagnai has checked the chart, making his own calculations on the basis of Eurostat figures, expanding it to more countries. The result is devastating.

The unemployment figure in Italy is over 35%, followed by Spain, Greece and Macedonia between 32.5% and 33%, Cyprus with 27%, Croatia with 24%.

The average for the Eurozone (19 countries) is between 22% and 23%.

The average for the European Union (27 countries) is 20%.

The Czech Republic and Iceland are the top of the "virtuous" countries, with 7-8% and 11-12% unemployment respectively—same figure for Germany.